OTHER NEWS - April 26, 1993
From Times Staff and Wire Reports
Billionaire Kluge to Buy Jimbo’s Jumbos: A company controlled by financier John Kluge agreed to pay $45 million, or $6.93 a share, for Jimbo’s Jumbos Inc., an Edenton, N.C.-based peanut processor. Jimbo’s Jumbos owns L.A. Nut House, which operates a nut processing plant and store in downtown Los Angeles and a second plant in Cerritos. Jimbo’s Jumbos, which is traded on the NASDAQ exchange, is 73% owned by Chock Full O’ Nuts Corp. The price is slightly less than the $7 a share previously set in a letter of intent with Kluge. Jimbo’s Jumbos also operates manufacturing and storage facilities in Edenton, Windsor and Williamston, N.C.; Erlanger, Ky., and Portales, N.M.
